IG

The US$2,720 level has proven to be a critical resistance for gold, with the previous two interactions triggering “significant short-term bearish reversals”, notes Yeap Jun Rong, IG market strategist.

The Chinese Politburo “hasn’t used such language to describe monetary policy in roughly 16 years”, notes José Torres, senior economist at Interactive Brokers.

Treasury yields and the US dollar have surged, reflecting mounting expectations that Trump’s inflationary policies may materialise.